Chase Ink Plus + Chase Ink Bold Approvals

UPDATE: These credit cards are no longer available to new applicants.

Last year I applied for the Chase Ink Bold card due to a 50,000 point sign promotion that they were having at the time. I personally love how the Chase Ink Bold card gives me Chase Ultimate Reward points as I value them very highly. For me, the points are primarily used (will be used) to transfer 1:1 to Hyatt, British Airways, and United. Since I have a decent number of credit cards in my wallet, this card is used solely for:

• Purchase free after rebate items at Staples
• Purchase gift cards at Staples for merchants I typically shop at (gas stations, best buy, clothing stores, etc.)
• Purchase actually needed items at Staples/Office Depot
• Paying my internet/tv/phone bill
• Purchasing Vanilla Reloads at Office Depot (in the past, since this is no longer available)

These points can add up quite a bit each month since I am getting 5x points for these purchases (with this card you get 5x points on the first $50,000 spent annually at office supply stores, cellular phone, landline, internet, and cable tv). The reason why this isn’t used for ALL OTHER purchases where I want to earn Ultimate Rewards points is because I also have the Chase Sapphire Preferred credit card which gives me 2x points on dining and travel.

Since I use my Chase Ink Bold for non-business expenses, I was really looking for a card where I can just put all my business expenses on for tracking purposes. Not doing this for 2012 definitely did not help me when it came to tax preparation time, and many hours were spent trying to go through receipts and variety of credit card statements. So going forward, I want to dedicate one card for these expenses, even if I am not maximizing my points. Since my already existing business card (Chase Ink Bold) is used for other purchases, I went ahead and applied for the Chase Ink Plus to use as my solely dedicated credit card for all business expenses. Even though I already had one business credit card with Chase, I was easily able to get another business credit card approved. When I spoke to the reconsideration line (which many people have to do for business credit cards), I was able to simply explain that I wanted to separate some business expenses I had, and that was as good enough reason as any.

So with just the two sign up bonuses I was able to get 100,000 points off the bat. That plus my regular spending and wheeling and dealing, I have been able to increase my Ultimate Reward point balance pretty significantly! I also am able to combine those points with the ones earned from my Chase Sapphire Preferred credit card spend/bonus points.

Now, many people ask if they are able to get the Chase Ink Bold or Chase Ink Plus without having a registered business. Technically, this card is for business owners, although they do not need to be registered as an EIN is not required and you can use your personal Social Security number on the application. When I applied for both cards I had a legit business, but I know others have reported success by having nothing really – and then utilizing eBay or something as their small little business, or a business idea. You will need to include your business expenses and profit when applying. When I applied last year for the Chase Ink Bold card, my business was not yet registered so I used my personal SS#, but this time around for the Chase Ink Plus card, I used the EIN number associated with my business. I

So this is to let you know that, yes, you can get both cards and the bonus points for both applications when meeting the minimum spend requirements. I’ve even read reports of people getting two of the same exact card and explaining the separation of expenses to get approved – I have not yet done this. The cards are exactly the same, except for one thing: Chase Ink Bold is a charge card, while Chase Ink Plus is a credit card.

• Charge card: Does not allow you to carry a balance. If you do not pay your balance in full by the due date, you will pay a penalty. However, with these types of cards you are typically allowed to borrow money for about 30 days.
• Credit card: Allows you to carry a balance and just pay a minimum payment. The balance rolls over to the next month and you are charged interest.

In my opinion, both cards are the same because if you are applying for a points/miles earning credit card you absolutely should pay your statement balance each month or else you are hit with heavier fees than other cards.

If you are new to the Chase Ultimate Rewards program, or want another recap, feel free to read this prior series:

• Introduction to Chase Ultimate Rewards Program
• Maximizing Chase Ultimate Rewards with Chase Freedom
• Downgrading your Chase Ultimate Rewards Card to Avoid the Annual Fee
• Best Redemption for Chase Ultimate Reward Points – Hotel Stays
• Best Redemption for Chase Ultimate Reward Points – Air Travel
• Chase Sapphire Preferred vs. Chase Sapphire
• Chase Ultimate Rewards: Sapphire Preferred vs. Ink Bold
• Top 10 Chase Ultimate Reward Questions